MY CALL: AFTER BEING BECALMED FOR SOME TIME, QLD RACING IS NOW SAILING IN THE RIGHT DIRECTION

By David Fowler | Tuesday, February 18, 2020

David Fowler is the principal thoroughbred caller for Radio TAB. David, who is a keen form student and punter, has enjoyed a lifetime involvement in the racing media. His personal blog, ‘My Call’, appears exclusively on HRO.

Vibes are good but they are no swap for facts.

As I have written in this forum over so many years facts allow opinions to be formed rather than those who convert opinions to facts.

There has been a good vibe about Queensland racing for some time.

The majority of the Racing Queensland Board have had their feet under the table for more than three years and the present administration is also well established.

The “new kids on the block” theory has been extinguished.

To quote its’ press release, being “committed to providing increased transparency,” Racing Queensland released its first half results for the 2019/20 financial year.

The facts clearly support the vibe.

Wagering turnover on Queensland product was $2.23 billion, a $64.8 million increase which established a half year record.

Turnover is the generator for revenue growth and that figure of $139.4 million equates to a 25.6% increase.

Significantly, and important to point out, that increased revenue is being returned to participants.

This includes $15.4 million in prizemoney (+ 22.8%), $1.3 million in riding and driving fees (+ 16%) and $1.4 million in critical racing infrastructure and club funding (+ 15%).

It was pleasing that wagering was “up” on each of the three codes.

A record turnover on Magic Millions day of $58 milliion (2019 $57m) is a powerful indicator of this meeting’s presence in the Queensland betting landscape.

The move to empower the Gold Coast meeting the previous Saturday, introducing the inaugural running of The Wave, paid a dividend through turnover, a 30% rise on the corresponding meeting in 2019.

Racing’s contribution to the state’s economy had also grown to more than $1.5 billiion per annum while creating 2000 additional full-time jobs.

It’s not totally picture postcard as turnover on QTAB has fallen and as such revenue to RQ has flatlined.

This is not easily dismissed as it is a key part of the Tabcorp merger which was executed in 2017.

Nevertheless, the Queensland racing industry is currently in a striking position to make even further advances.

More articles